It is tough over here in America with the stock market. Fidelity sent me my 401k statement a few days ago. It was off by 27% and we still have two more months to go. If the market could beat Fidelity that badly, you can agree that this is an avalanche.
Indeed, wealth is being destroyed and ravaged in the US stock market. Within the last 12 months, Meta (yes, Facebook) share has hit a high of $353 per unit; now, it is hovering around $97 per unit. Look deeper, Meta has lost close to $700 billion within 12 months!
As people write how “poor” Mark Zuckerberg has become [pray that you have that level of poverty!], remember that the 99% are severely affected. He might have lost some $1billions but people are losing everything.
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Check carefully, the resilient bigtech online companies are the ones with defensible moats via native operating systems. Apple and Alphabet (Google) variances are not that bad while Meta and Amazon are under high voltage volatility pressure! The battle for metaverse OS is going to be ferocious.
It is tough over here in America with the stock market. Fidelity sent me my 401k statement a few days ago. It was off by 27% and we still have two more months to go. If the market could beat Fidelity that badly, you can agree that this is an avalanche.
Indeed, wealth is being destroyed and ravaged in the US stock market. Within the last 12 months, Meta (yes, Facebook) share has hit a high of $353 per unit; now, it is hovering around $97 per unit. Look deeper, Meta has lost close to $700 billion within 12 months!
As people write how “poor” Mark Zuckerberg has become [pray that you have that level of poverty!], remember that the 99% are severely affected. He might have lost some $1billions but people are losing everything.
Check carefully, the resilient bigtech online companies are the ones with defensible moats via native operating systems. Apple and Alphabet (Google) variances are not that bad while Meta and Amazon are under high voltage volatility pressure! The battle for metaverse OS is going to be ferocious.
Microsoft won the operating system for laptops and desktops. Google and Apple won the mobile era via Android and iOS respectively. The next game is who wins the metaverse emerging age. Facebook (Meta) is betting on that future so that it can control end-to-end positioning in the market.
Today, one update from Apple iOS and Google Android makes Facebook lost in a world-sea of smartphones. Yes, there is a clear correlation between the fall of Facebook’s valuation and the tracking policies implemented by Apple! Facebook hopes to reverse that when the world moves into the metaverse possible via its VR sets! It is investing massively into that transition.
Has Big Tech’s decade of rocketing growth come to an end? That was the question being asked by analysts and commentators this week, after a string of disappointing earnings reports from firms such as Meta, Amazon, Alphabet and Microsoft — parent company of LinkedIn — sent many tech stocks tumbling. After powering through the economic turmoil of the pandemic, Big Tech companies are now being buffeted by a convergence of headwinds: high inflation, rising interest rates, the strong dollar and a pullback in spending by advertisers and consumers. (LinkedIn News)
Mark Zuckerberg’s Net worth Drops as Meta (Facebook)’s Value Plunges
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